Occudo Quantitative Strategies LP Makes New $313,000 Investment in nVent Electric plc (NYSE:NVT)

Occudo Quantitative Strategies LP acquired a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,586 shares of the company's stock, valued at approximately $313,000.

A number of other large investors have also recently added to or reduced their stakes in NVT. Capital Research Global Investors bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric in the 4th quarter worth about $197,434,000. William Blair Investment Management LLC increased its holdings in shares of nVent Electric by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock worth $176,630,000 after acquiring an additional 210,690 shares during the period. Millennium Management LLC increased its holdings in shares of nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after acquiring an additional 1,953,026 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of nVent Electric by 15.0% in the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock worth $117,499,000 after acquiring an additional 224,657 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insider Activity

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares in the company, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVT. Royal Bank of Canada increased their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Barclays increased their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Citigroup lowered their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, nVent Electric currently has a consensus rating of "Buy" and an average price target of $70.00.

nVent Electric Price Performance

nVent Electric stock traded down $0.56 during trading hours on Tuesday, hitting $66.00. 1,197,546 shares of the company traded hands, compared to its average volume of 1,935,151. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm's 50-day simple moving average is $55.32 and its two-hundred day simple moving average is $64.55. The firm has a market cap of $10.87 billion, a P/E ratio of 33.67, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The company had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the firm posted $0.78 EPS. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. nVent Electric's dividend payout ratio (DPR) is 22.86%.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.